M&A Newsletter — September 2026

An undisclosed investor reached a definitive agreement to acquire Mexico's Ecogas México, a subsidiary of Sempra Infrastructure and a natural-gas distributor with operations in Baja California, Chihuahua and La Laguna-Durango. The transaction amount was USD $500 million.

Mexico's Afore Coppel, a retirement-fund management firm headquartered in Mexico City, reached a definitive agreement to acquire fellow Mexican company InverCap Afore, a retirement-fund administrator and savings-and-investment services provider headquartered in Nuevo León. The transaction amount was USD $264 million.

Mexico's Odinsa, a company specializing in infrastructure and concessions, reached a definitive agreement to acquire Tecnología Intercontinental, a Mexican company specializing in the design and construction of plants and systems for wastewater treatment, headquartered in Mexico City, from EPM Capital Mexico. The transaction amount was MXN $1,499 million.

Canada's Tocvan Ventures Corp. (CSE: TOC), a mineral exploration and development company, reached a definitive agreement to acquire a 49% interest (consolidating 100%) in the Gran Pilar gold and silver project, a 105-hectare mining asset located in Sonora, from Colibri Resource Corporation (TSX: CBI), a company focused on mineral project exploration and development. The transaction amount was CAD $3.6 million.

Mexico's Cancún International Airport, a subsidiary of Grupo Aeroportuario del Sureste (MEX: ASURB), reached a definitive agreement to acquire a 12.75% interest in BH Airport, the operator of the Belo Horizonte international airport in Brazil, from Flughafen Zürich AG (SWX: FHZN). The transaction amount was not disclosed.

Canada's Fairfax Financial Holdings Limited (TSX: FFH), a company specializing in financial services and insurance, reached a definitive agreement to acquire Compañía de Seguros Generales Everest México, an insurance-services provider focused on designing tailored protection solutions, headquartered in Mexico City. The transaction amount was not disclosed.

Mexico's Minera Mar de Plata, a subsidiary of Sonoro Gold Corp. (TSX: SGO), a mining company focused on the exploration and development of gold and other mineral projects, headquartered in Sonora, reached a definitive agreement to acquire a portfolio of five mining concessions, mineral assets located in the same state. The transaction amount was not disclosed.

Mexico's Neolpharma, a company specializing in the pharmaceutical industry, headquartered in Mexico City, reached a definitive agreement to acquire a pharmaceutical manufacturing plant, an asset located in Toluca, from Signa, a Mexican company specializing in the production of Active Pharmaceutical Ingredients (API), headquartered in Estado de México. The transaction amount was not disclosed.

U.S.-based Gatik, a developer of autonomous-vehicle technology for logistics and supply chains, closed a venture capital funding round (Series D) in the amount of USD $200 million. The investment was led by Koch Disruptive Technologies and Qatar Investment Authority, with the participation of Mexico's Arca Continental, Intact Ventures, Firemark Ventures, Muirwoods Ventures, Meritz Securities, Saudi Arabia's Public Investment Fund, and other investors.

Mexico's VeraDAT, a developer of a financial crime detection platform focused on combating fraud, money laundering and terrorist financing, based in Mexico City, closed a venture capital funding round in the amount of USD $12.81 million. The investment was made by undisclosed investors.

Mexico's Primero AI, a developer of an operational intelligence platform focused on managing complex organizational operations, based in Mexico City, closed a venture capital funding round (seed) in the amount of USD $12 million. The investment was led by Kaszek and General Catalyst, with the participation of Definition, Conviction Partners and 8VC.

Mexico's Sarelly, a fashion brand focused on bags, jewelry, leather accessories and apparel, based in Mexico City, closed a venture capital funding round in the amount of USD $3 million. The investment was led by Sandbox Studios and Mexico's Wollef fund, with the participation of Silas Capital, Siddhi Capital and Pentland Ventures.

Chile's Kapso, a developer of an API and automation platform focused on facilitating social media integration for software products, closed a venture capital funding round in the amount of USD $1.4 million. The investment was made by Latitud, Mexico's Semilla Ventures fund and Norte Ventures, with the participation of Newtopia VC, Hypersphere Capital, Chile Ventures, Platanus Ventures, Proximity Angels, Matías Woloskie, and other investors.

Mexico's Synaptic Bionics, a developer of intelligent bionic systems for prosthetics and rehabilitation devices, based in Mexico City, closed a venture capital funding round (seed) in the amount of USD $670 thousand. The investment was led by Draper Associates, with the participation of AJI Capital, Mexico's Startup Chihuahua fund and Techstars. The financing was initially structured through SAFE Notes, subsequently converted into equity.

Mexico's Cuéntame, a mental health and wellness platform focused on providing resources for employees and their families, based in the State of Mexico, received grant funding as part of the third edition of eNOVADORAS 2026. The investment was made by eNovadoras, a support and acceleration program for women-led technology companies in Mexico created by AT&T México in collaboration with Endeavor México and the Tecnológico de Monterrey, for an undisclosed amount.

Mexico's Getin, a retail analytics platform focused on measuring and analyzing in-store traffic, based in Mexico City, received grant funding as part of the third edition of eNOVADORAS 2026. The investment was made by eNovadoras, a support and acceleration program for women-led technology companies in Mexico created by AT&T México in collaboration with Endeavor México and the Tecnológico de Monterrey, for an undisclosed amount.

Mexico's PROSPERiA, a developer of AI-based disease diagnostic and detection tools headquartered in Mexico City, received grant funding as part of the third edition of eNOVADORAS 2026. The investment was made by eNovadoras, an acceleration and support program for women-led technology companies in Mexico created by AT&T México in collaboration with Endeavor México and Tecnológico de Monterrey, for an undisclosed amount.

Mexico's Tiendas Neto, a discount retail chain focused on the sale of basic consumer goods, received development financing from Glisco Partners for an undisclosed amount.

U.S.-based Zapp, a developer of a cross-border remittance platform focused on digital money transfers, closed a venture-capital funding round for an undisclosed amount. The investment was made by Mexico's Dalus Capital fund.

Mexico's Braskem Idesa, a petrochemical company focused on the production and marketing of polyethylene, headquartered in Mexico City, filed for restructuring under Chapter 11 in the United States, with access to debtor-in-possession (DIP) financing of up to USD $409 million, including USD $279 million of new money.

Mexico's Grupo Guma, a manufacturer of industrial products for the energy and automotive sectors, headquartered in Jalisco, received MXN $3,900 million in debt financing. The financing was provided by BBVA México, Banamex, HSBC México and Santander México.

Bladex (MEX: BLADEX) completed the issuance of long-term market securities (certificados bursátiles) for MXN $5,000.00 million on the Bolsa Mexicana de Valores (BMV), with BBVA and Santander acting as placement intermediaries.

Afirme Almacenadora (MEX: ALMER) completed the issuance of short-term market securities (certificados bursátiles) for MXN $4,324.84 million on the Bolsa Mexicana de Valores (BMV), with Casa de Bolsa Base acting as placement intermediary.

Compartamos Banco (MEX: COMPART) completed the issuance of long-term market securities (certificados bursátiles) for MXN $4,000.00 million on the Bolsa Mexicana de Valores (BMV), with BBVA acting as placement intermediary.

Financiera Bepensa (MEX: FINBE) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV), through Actinver, Banorte and Kapital as placement intermediaries.

CFE (MEX: CFE) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,500.00 million on the Bolsa Mexicana de Valores (BMV), through BBVA and Inverlat as placement intermediaries.

Start Banregio (MEX: START) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,398.50 million on the Bolsa Mexicana de Valores (BMV), through Actinver Casa de Bolsa as placement intermediary.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,300.00 million on the Bolsa Mexicana de Valores (BMV), through BBVA and Inverlat as placement intermediaries.

Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,100.00 million on the Bolsa Mexicana de Valores (BMV), through Actinver as placement intermediary.

Ford Credit (MEX: FORD) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,000.00 million on the Bolsa Mexicana de Valores (BMV), through Inverlat and Banorte as placement intermediaries.

NR Finance (MEX: NRF) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $986.26 million on the Bolsa Mexicana de Valores (BMV), through BBVA as placement intermediary.

GM Financial (MEX: GMFIN) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $958.55 million on the Bolsa Mexicana de Valores (BMV), through Inverlat and Banorte as placement intermediaries.

Toyota Financial Services (MEX: TOYOTA) completed the placement of short-term securities certificates for MXN $800.00 million on the Bolsa Mexicana de Valores (BMV), through BBVA and Inverlat as placement intermediaries.

Montepío Luz Saviñón (MEX: MONTPIO) completed the placement of short-term securities certificates for MXN $200.00 million on the Bolsa Mexicana de Valores (BMV), through Actinver and Banorte as placement intermediaries.

Paccar Financial (MEX: PCARFM) completed the placement of short-term securities certificates for MXN $157.60 million on the Bolsa Mexicana de Valores (BMV), through Scotiabank as placement intermediary.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term securities certificates for MXN $150.00 million on the Bolsa Mexicana de Valores (BMV), through GBM and Banorte as placement intermediaries.

Grupo Minsa (MEX: MINSA) completed the placement of short-term securities certificates for MXN $150.00 million on the Bolsa Mexicana de Valores (BMV), through Actinver and Banorte as placement intermediaries.

Almacenadora Mercader (MEX: ALMER) completed the placement of short-term securities certificates for MXN $98.00 million on the Bolsa Mexicana de Valores (BMV), through Banorte, Actinver and Kapital as placement intermediaries.